The equilibrium price is $40 and the equilibrium quantity is 250. For next time to find the equilibrium in something it’s the point where they cross.
Answer:
B) started many small firms that later became major corporations employing thousands of workers.
Explanation:
Entrepreneurship is the intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).
An entrepreneur refers to an individual who sees a need or discovers a problem in a society and innovatively proffers a solution using brilliant ideas or entrepreneurial thinking.
The following are four characteristics of an entrepreneur;
1. Innovative: it can be defined as a quality possessed by an individual or group of people such as an entrepreneur and typically involves the process of improving on an existing product or ideas.
2. Passionate: believing in a course and one's ability to achieve much more at a business.
3. Risk-Taker: he or she is confident enough to venture into risky businesses with the hope of an expected success.
4. Self-Confident: he or she is bold and believes in his or her abilities to excel.
In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.
Historically, entrepreneurs in the United States of America have started many small firms that later became major corporations with branches across the world and employing thousands of workers to carry out its daily services.
Answer:
False
Explanation:
The characteristics of a sole proprietorship are as stated below;
- Sole proprietorship is the simplest and easiest form of business setups
- The personal responsibility of the owner are unlimited.
- The business is owned by one person
- The business is taxed based on the personal income of the owner
From these characteristics, if the sole proprietorship acquires a legal business name, the owner then has unlimited liability.
Answer: C. A decrease to assets for $45,000.
Explanation:
When shareholders redeem their stock, the company pays them for the redeemed stock at a certain price which in this case is $45.
The total cost of redemption is therefore:
= 45 * 1,000
= $45,000
The company uses cash to pay for this which is an asset. Assets will therefore reduce by $45,000 which is the amount of cash paid.
